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Tuesday, February 19, 2013

Greetings from Kiev!Here is this morning’s Ukrainian stock performance summary, from the
Warsaw Stock Exchange, based on the prior trading day's closing bell. The Warsaw Stock Exchange continued its winning streak and closed up (+0.30%), against mixed screens across the
main European markets (FTSE -0.16%,
STOXX +0.05%,
CAC +0.18%, DAX +0.46%, IBEX -0.51%). The U.S.
markets were closed for President's Day.Looking
at Ukrainian equities in particular
across the Warsaw Stock Exchange, their index underperformed the
main
Warsaw equities index, closing down (-1.06%) with gains in Agroton, Kernel, KDM Shipping and Milkiland unable to carry the day.
From a market depth standpoint, the highest trading volumes occurred in Milkiland (223,428 shares), Kernel (118,303 shares), IMC (50,910 shares) and Westa (47,228 shares).

The
ICE
daily CER continued to trade in range, gaining another cent to reach 0.14
EURO (+7.69%). ERUs are trading
around 50% of this price. Kyoto units are trading in low volumes while everyone watches today's EUA back-loading proposal vote
in the EU. This vote would be the first of several
required votes to execute such a set aside this year, and not the
hardest one. In the meantime, the market continues to witness continuous
new issuances of ERUs and CERs on top of existing oversupply.

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About Me

An investment and trading specialist, Jon Queen undertakes capital markets transactions and alternative investments across a broad spectrum of asset classes.
Jon has degrees in Economics from Cornell University and Law from University of Pennsylvania.
Prior to working in the energy and emissions trading space, Mr. Queen was an attorney at Latham & Waktins LLP and a licensed securities representative at John Hancock Financial Services.